CREATING A FREE CASH FLOW FOCUSED, DIVERSIFIED GOLD PRODUCER May - PowerPoint PPT Presentation

CREATING A FREE CASH FLOW FOCUSED, DIVERSIFIED GOLD PRODUCER May 11, 2020

Conference Call Participants Paul Benson Rodney P. Antal President and CEO President and CEO SSRM:NASDAQ/TSX | ASR:TSX AQG:ASX | ASR:TSX AQG:ASX PAGE 2

Creating a Free Cash Flow Focused, Diversified Gold Producer Zero-premium merger of two top-performing gold producers ▪ Diversified portfolio of high quality, long-life operating assets across four jurisdictions Diversified Forward-looking 3-year average annual production profile of ~780 koz AuEq (1) at ~$900/oz (1) AISC (2) ▪ Portfolio (based on aggregate analyst consensus estimates) ▪ Board and management track record of creating value through discovery, project development, and Experienced operations ▪ Expertise across various mining and processing skill sets: open pit, underground, pressure Leadership oxidation, heap leach, flotation Expected peer leading average annual pro forma free cash flow generation of ~US$450M (1,3) (2020E- Free Cash ▪ 2022E), well ahead of peer group annual average of US$275M (1) Flow Leader Strong balance sheet with consolidated cash (4) and marketable securities of ~US$700M Financial ▪ ▪ Balance sheet strength supports growth pipeline and facilitates capital return evaluation Strength ▪ Three significant district scale land packages in USA, Canada, and Turkey Organic ▪ Attractive portfolio of low capital intensity growth opportunities Growth ▪ Track record of resource conversion, successful greenfield and brownfield exploration, and project Potential construction Market ▪ Enhanced capital markets presence and investor relevance ▪ Attractive trading liquidity across three global exchanges Presence SSRM:NASDAQ/TSX | ASR:TSX AQG:ASX | ASR:TSX AQG:ASX PAGE 3

Transaction Summary ▪ SSR Mining and Alacer to merge via Plan of Arrangement Proposed ▪ Combined equity value of approximately US$4.0 billion Transaction ▪ Pro Forma ownership of 57% SSR Mining and 43% Alacer ▪ Zero-premium, at-market merger based on TSX closing prices as of May 8, 2020 ▪ Implies Alacer shareholders receive 0.3246 SSR Mining shares per Alacer share held Consideration ▪ Transaction is approximately neutral to NAVPS based on average of street consensus estimates for both companies ▪ Michael Anglin as Chairman and Rodney Antal as CEO Leadership ▪ Company to continue as SSR Mining Inc. trading on TSX, NASDAQ and planned listing on ASX and ▪ Company will be headquartered in Denver with a corporate office in Vancouver Governance ▪ Board with 10 directors: 5 appointed by SSR Mining and 5 appointed by Alacer, including the CEO ▪ Customary non-solicitation provisions; right to match Other Terms ▪ Reciprocal termination fee of US$70M, payable in certain circumstances and ▪ Unanimous support and lockup agreements from both Boards of Directors and certain officers ▪ Customary shareholder, regulatory and court approvals Conditions ▪ Reciprocal due diligence site visits completed in February/early March 2020 to core operating assets ▪ Joint information circular mailed by each company to its shareholders by June 2020 Proposed ▪ SSR Mining and Alacer shareholder meetings expected to be held July 2020 Timing ▪ Closing expected in third quarter 2020 SSRM:NASDAQ/TSX | ASR:TSX AQG:ASX | ASR:TSX AQG:ASX PAGE 4

Diversified Portfolio of High Quality, Long-Life Assets Operating assets across four jurisdictions Production by Asset 2019A AuEq. (100% Basis) Puna 11% Seabee Seabee Gold Mine 14% Çöpler 48% Marigold Mine Marigold 27% 2020 – 2022E Production (1) Çöpler District Koz AuEq (100% Basis) Pitarrilla +9% Ardich 809 787 744 San Luis 2020 2021 2022 2020 – 2022E Free Cash Flow (3) US$M (100% Basis) Puna Mine +74% $553 $477 $317 Projects Operations 2020 2021 2022 The figures presented above are based on aggregate analyst consensus estimates. SSRM:NASDAQ/TSX | ASR:TSX AQG:ASX | ASR:TSX AQG:ASX PAGE 5

Experienced Leadership Track record of delivery based on a diverse technical skill set Track Record of Value Creation (5) Diverse Operating & Development Skill Set 250 +138% ▪ Large-scale open pit operations +124% Mining ▪ Narrow-vein underground mining 200 ▪ Pressure-oxidation processing Share Price Performance (Indexed to 100) ▪ Heap leach gold extraction Processing 150 ▪ Polymetallic sulfide flotation +39% ▪ Exploration success with multiple +15% Geology deposit types and mineralization 100 styles ▪ Çöpler sulfide plant Project 50 ▪ Chinchillas project extension Execution Track record of achieving guidance ▪ Marigold per tonne movement Operational 0 ▪ Seabee mill throughput increase May/16 Feb/17 Nov/17 Aug/18 May/19 Feb/20 Excellence ▪ Çöpler oxides and sulfides SSR Mining Alacer Gold GDX GDXJ SSRM:NASDAQ/TSX | ASR:TSX AQG:ASX | ASR:TSX AQG:ASX PAGE 6

Experienced Leadership Successful cultures grounded in discipline and integrity ISS ESG Ranking (6) Experienced Leadership ▪ Top ESG rankings Peer 1 7 SSR Mining 9 Peer 2 9 ▪ Focus on shareholder value Alacer Gold 12 Peer 3 12 Peer 4 13 ▪ Strong health and safety record Peer 5 14 Peer 6 15 Peer 7 17 ▪ Consistent operational execution Peer 8 17 Peer 9 19 ▪ Disciplined capital allocation Peer 10 19 Peer 11 22 Peer 12 24 SSRM:NASDAQ/TSX | ASR:TSX AQG:ASX | ASR:TSX AQG:ASX PAGE 7

Free Cash Flow Leader Peer leading free cash flow generation 2020 – 2022E Average Production (1,7) Koz AuEq (100% basis) 1,215 978 972 970 925 780 776 769 647 521 519 510 480 433 347 Northern Star Centerra Yamana B2Gold Evolution MergeCo IAMGOLD Equinox Saracen Centamin OceanaGold Alamos Eldorado SSR Mining Alacer Gold 2020 – 2022E Average Free Cash Flow (3,7) US$M | Operating Cash Flow less Capex (100% basis) $538 $449 $429 $391 $378 $376 $281 $262 $221 $187 $181 $176 $133 $109 $97 Northern Star MergeCo B2Gold Evolution Yamana Centerra Saracen Alacer Gold Centamin SSR Mining Alamos Equinox OceanaGold Eldorado IAMGOLD The figures presented above (including those of Alacer, SSR Mining and MergeCo) are based on aggregate analyst consolidated consensus estimates. SSRM:NASDAQ/TSX | ASR:TSX AQG:ASX | ASR:TSX AQG:ASX PAGE 8

Significant Financial Strength Peer leading balance sheet bolstered by free cash generation Over $700M of Cash & Securities Peer Leading Credit Metrics (8)) Net Debt to 2020E EBITDA SSR Alacer MergeCo (US$M) IAMGOLD (0.9x) FD Shares Centamin (0.8x) 126.3 298.5 223.2 Outstanding SSR Mining (0.8x) Market Alamos (0.4x) $2,288 $1,755 $4,043 (9) Capitalization MergeCo (0.3x) Centerra (0.1x) Debt $230 $262 $492 B2Gold 0.0x Cash & Marketable Saracen 0.0x (10) (4) $468 $239 $707 Securities Alacer Gold 0.1x Northern Star 0.1x Net Debt (Cash) ($238) $23 ($215) Evolution 0.3x OceanaGold 0.5x (11) 2020E EBITDA $289 $328 $618 Eldorado 0.6x Net Debt to Yamana 0.9x (0.8x) 0.1x (0.3x) EBITDA Equinox 1.5x SSRM:NASDAQ/TSX | ASR:TSX AQG:ASX | ASR:TSX AQG:ASX PAGE 9

Robust Organic Pipeline for Growth Extensive land packages in proven mineral belts Çöpler District master plan Marigold growth opportunities ✓ ✓ 121,500 hectares across Turkey ~20,000 hectare land package ✓ ✓ Ardich – Potential to Add Production in 2-3 Doubled land position with the acquisition (12) Years of the neighboring Trenton Canyon and Buffalo Valley properties ✓ Çöpler Saddle – Future Potential (13) ✓ Highly prospective for both surface ✓ Mavialtin Porphyry Belt – Early-Stage oxides and deeper high grade sulfides (14) Prospects Seabee Mineral Resources Projects for evaluation and Mineral extensions and Fisher project targets Resources development ✓ ✓ Pitarrilla – one of the largest undeveloped Over 60,000 hectares incl. Fisher option (15) primary silver deposits in the world with ✓ Large, continuous land package covers leverage to rising commodity prices 30 km of shear zone strike length ✓ San Luis – high grade, low capital ✓ Highly prospective for greenfield and intensity Au-Ag deposit with robust brownfield discoveries project economics SSRM:NASDAQ/TSX | ASR:TSX AQG:ASX | ASR:TSX AQG:ASX PAGE 10

Enhanced Capital Markets Presence Attractive trading liquidity across three global exchanges … Potential for increased … Improved liquidity attracts Increased scale across three coverage from equity research exchanges … investors (16) analysts Overlapping Equity Research Analysts: $4.0 BMO Capital Markets RBC Capital Markets $39.6 CIBC World Markets Scotiabank National Bank Financial $33.7 Non-Overlapping Equity Research Analysts: $10.7 Bank of America Merrill Lynch Macquarie B. Riley FBR PI Financial $2.3 Canaccord Genuity Stifel GMP Cormark Securities Credit Suisse UBS Investment Research $1.8 Pro forma shareholders by region (20) $28.9 1% 9% United States 13% Europe (18) Alacer Gold SSR Mining MergeCo MergeCo Peer Average Canada (19) (17) Market Capitalization (US$B) Daily Trading Liquidity (US$M) Asia/Pacific 58% 19% Other SSRM:NASDAQ/TSX | ASR:TSX AQG:ASX | ASR:TSX AQG:ASX PAGE 11